The market for silage bags will likely reach US$ 558 million in 2022 and grow at a CAGR of 4.9% from 2022 to 2032, according to estimates. By 2032, Future Market Insights projects that the market for silo bags will be worth US$ 900.27 Million.
For decades, silage or silo bags have been popular in the agricultural industry for storing grain products like corn, wheat, barley, soybeans, and sunflower seeds as well as fresh feed for cattle. Due to their capacity to provide safety against spills and rat threat at the warehouse, they are an excellent choice for grain storage.
Silage bags were initially developed to help farmers store and keep fodder or animal feed. Although forage is the most cost-effective form of animal nutrition, it is not available all year. In order to tackle this problem, silage bags were thought to be the most cost-effective way to conserve feed throughout the crucial time of the year. These bags were quickly referred to as “grain bags” because they were perfect for medium-scale grain storage.
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Nearly one-third of all food produced each year is lost or spoils before it can be eaten, according to the World Food Program USA. At harvest time, millions of people in low-income nations experience food waste.
Market Dynamics:
Silage bags market is expected to witness hike in terms of demand due to its convenient storage qualities. Silage bags are used for the storage of agricultural products like food grains, crops, etc. apart from feed and fodder. The increasing demand of the agricultural products and reduction in the production of the feed and fodder crops is expected to fuel the demand for silage bags market.
The attributes of silage bags that are support its demand includes low cost investment, minimum space requirement, ease of handling, etc.
Regions with high agricultural activities like India and Australia have increasing preference for silage bags for easy and safe techniques for the storage of their farm products.
Region Wise Outlook
On the basis of geographical regions, the silage bags market is divided into following regions: North America, Latin America, Europe, Asia Pacific and Middle East.
Asia’s large and growing population coupled with rising incomes and a rapidly growing middle class is expected to drive the demand for silage bags market. Silage bag market is therefore anticipated to be dominated by Asia Pacific region during the forecast period. The world’s growing economy like India and China is also expected to boost the silage bags market in the coming years.
Key Players
The key players in the silage bags market includes
- RKW groups (Germany),
- Silo Bags International limited (China),
- Silo Bags India (India),
- Flex Pack (Holland),
- Silo bag grain (Australia),
- Grain Bags Canada (Canada),
- The Panama Group (India),
- Ipesa – Rio Chico S.A. (Argentina), etc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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Market Segmentation:
Based on capacity:
- Small : 100 to 140 tons
- Large : 150 to 200 tons
- Very large : 210 to 250 tons
Based on grain types:
- Dry grains
- Wet grains
- Crushed grains
- Dried fruits
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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